Life Insurance protects the most important people in your life.
Life cover pays a cash sum if you die. Policies are generally designed to help families cope with the financial pressure of losing the household’s main earner. There are many different varieties of life cover, suiting all sorts of needs.
Read our Documentation on Life Insurance here
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Mortgage Life Insurance
Mortgage cover ensures your mortgage will be paid off if you die. It will prevent your home from being repossessed and secure it for your family.
There are two main types of Mortgage Life Cover: Level Term Cover and Decreasing Term Cover. The type you might need will depend on your mortgage.
Interest Only Mortgage
If you have an interest only mortgage your debt stays the same throughout the term of the mortgage. You’ll need a level term policy to pay it off.
If you have a repayment mortgage, your mortgage debt will decrease as you pay it off. A decreasing term policy covers what’s left to pay on your mortgage.